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Mamo TCV Advocates

MFSA Issues Circular on Proposed Changes to the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations
Insurance & ReinsuranceLegal Updates

The MFSA has proposed amendments to the Insurance Distribution Rules

The MFSA commenced a consultation process on its proposed amendments to the Insurance Distribution Rules (hereinafter referred to as the “IDR”). The consultation process began on the 26th of January 2023 and closes on the 8th of March 2023. The following amendments are being proposed: Chapter 1 in relation to Professional Indemnity requirements; Chapter 2, together with a proposed new draft Annex to Chapter 2 and draft Schedules 4 – 8 of Chapter 2 in relation to: (i) the pre-requisite qualifications when submitting an application for registration of individuals in the Agents Register, Managers Register or Brokers Register, (ii) the…
Mamo TCV Advocates
8th February 2023
Unlock Funding Opportunities for Your SME: EU Renews IP Grant
Intellectual PropertyNews

Unlock Funding Opportunities for Your SME: EU Renews IP Grant

Following the successful uptake of a similar initiative in 2022, the European Commission has re-launched its fund to support small and medium enterprises (“SMEs”) in safeguarding their intellectual property assets. The scheme, which will run from 23 January 2023 until 8 December 2023, will enable SMEs established in the European Union to recover up to 75% of eligible fees incurred in connection with trademark and design applications, at both EU and national level, up to a maximum of €1,000. This is welcome news, since it is estimated that over 99% of all businesses in the EU are SMEs and is…
Mamo TCV Advocates
31st January 2023
Mamo TCV at Malta Aviation Conference & Expo (MACE)
AviationNews

Malta launches a Civil Aviation Policy for 2023-2030

Dr Nicholas Valenzia, head of the Shipping and Aviation Practice Area at the firm, was invited to speak at the National Aviation Conference which was organised by the Ministry for Transport, Infrastructure and Capital Projects on the 18th of January 2023 at the Phoenicia Hotel in Floriana. Dr Valenzia discussed the aircraft financing and leasing market in Malta and the challenges to enhancing sectorial capacity and improving socio-economic benefits. Dr Valenzia’s address during the Conference can be seen in the video below. During the Conference, the Ministry for Transport, Infrastructure and Capital Projects launched A Civil Aviation Policy for Malta…
Mamo TCV Advocates
26th January 2023
Banking & FinanceInsurance & ReinsuranceInvestment Services & FundsNews and PublicationsRegulatory Compliance

Regulatory Compliance Quarterly Update | Q4 2022

We are pleased to issue our third edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space. In this issue, we focus on the sector specific and cross-sectoral regulatory updates relating to Investment Services and Asset Management; Credit and Financial Institutions; Company Service Providers and Insurance Undertakings and Insurance Intermediaries. Our Regulatory Compliance Quarterly Update can be found here. Our third Regulatory Compliance Quarterly Update can be found hereThe Regulatory Compliance Quarterly Update does not purport to give legal, regulatory,financial…
Mamo TCV Advocates
25th January 2023
MFSA Issues Circular on Proposed Changes to the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations
Insurance & ReinsuranceLegal Updates

MFSA Issues Circular on Proposed Changes to the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations

The MFSA issued a Circular on the 22nd of December 2022 in which it proposed amendments to the Companies Act (Cell Companies carrying on business of Insurance) Regulations, Subsidiary Legislation 386.10 (“the PCC Regulations”). The PCC Regulations provide for the creation and regulation of cell companies. Currently, regulation 15 of the PCC Regulations provides that where a cell exclusively carries on business of affiliated re/insurance, the cell company may, by written agreement, provide that only the cellular assets of that cell may be utilized to satisfy the cellular liability of that cell. Hence, regulation 15 allows for the limitation of…
Mamo TCV Advocates
19th January 2023